Zon profits dip

Portugal’s cable TV and Internet company Zon has posted a 2 per cent drop in net profit for the January-to-September period as higher financial costs offset a rise in revenue. The country’s leading cable operator said net profit slipped to E50.9 million – slightly below market consensus.

Zon said nine-month net revenue rose 8 per cent to E570.4 million. In the third quarter alone, Zon’s profit fell 15 per cent to E9.7 million while revenues rose 9 per cent to E193.1 million.